Six (6) Best Up And Coming Cryptocurrencies To Watch
There are over 15,000 cryptocurrencies at the time of writing. Some of these assets have undeniably gone mainstream and are thrilling investors with their performance. However, some are labeled “up and coming” cryptocurrencies as their potential suggests future price increases.
The industry currently has a lot of these promising projects and many people would like to invest in the best up and coming cryptocurrencies to maximize profit. In this article, we cover the following:
- What are up and coming cryptocurrencies?
- A list of the best up and coming cryptocurrencies to watch
- Frequently asked questions about up and coming cryptocurrencies.
Table of Contents
What are Up and Coming Cryptocurrencies?
The term “Up and Coming” is used in a lot of context. Some very popular uses of this term include references to proteges and fast rising. In all of these contexts, it is undeniable that the words under consideration are associated with positivity and something that has a lot of potential.
Up and coming cryptocurrencies refer to blockchain and cryptocurrency-related projects that have the potential to see increased adoption and price appreciation over the next decade and beyond.
As previously noted, the crypto market is filled with a lot of projects and and a handful of them have huge potential. Of all the fastest rising cryptocurrencies, we will be looking at the top six best up and coming cryptocurrencies to watch.
Best Up and Coming Cryptocurrencies to Watch
1. Solana (SOL)
The Solana blockchain has arguably been one of the fastest rising projects since the turn of the year, heavily backed by cryptocurrency venture capital funds, including popular exchange platform, FTX. Luring investors with its promise of faster transactions, the project garnered momentum and claimed a place in the top 10 cryptocurrencies by market capitalization.
At the time of writing, SOL is the fifth largest cryptocurrency by market cap and at one time challenged Binance coin for the third spot. The coin started the year at $2.1 per unit, but has seen a more than 8,000% increase this year to trade around $165 at the time of writing.’
Solana’s growth has largely been led by increased adoption of decentralized applications (dApps) built on the network, including for decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, and social media. According to the official Solana website, there are currently over 870 projects live on the network.
Potential investors, however, must consider the fact that the project’s main network is still in early development and have reported stability issues in recent times. Additionally, it could take significantly longer periods for the network to attract the number of developers required to put in the same category as its more popular competitor, Ethereum.
However, if Solana can overcome its current woes and improve on its allegedly superior technology, then it will likely continue to lead the pack of up and coming cryptocurrencies to watch.
Polygon brands itself an easy-to-use platform for Ethereum scaling and infrastructure development. One of the project’s prime products is the Matic Network which allows developers to host low-cost and fast decentralized applications (dApps).
While Matic is a simple layer-2 scaling solution for Ethereum, Polygon is the infrastructure for a network of massively scaling, collaborative blockchains that retain their self-sovereignty. The project’s ultimate goal is to provide infrastructure for connecting different blockchains.
Polygon provides a wide variety of modules developers can use to easily deploy and configure their own custom blockchain. With this quality, the asset is sure to see more decentralized applications (dApps) built on the network, including for decentralized finance (DeFi), non-fungible tokens (NFTs) and games.
MATIC opened the year at $0.02 but is trading above $2 at the time of writing – a more than 10,000% increase. The growth suggests the network has piqued the interest of both developers and investors and it is only a matter of time until we see whether MATIC lives up to its billing as an up and coming cryptocurrency.
3. Terra (LUNA)
Created in 2018, Terra aims to provide global payment solutions around the world and drive the rapid adoption of cryptocurrencies and its technologies. The native token of the network is LUNA which also plays the role of governance.
One of the measures taken to reach its goal is to combine the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offer fast and affordable settlements and, as at the time of writing, offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian Tugrik and the IMF Special Drawing Rights basket of currencies.
Offering fast transactions with low fees, better user- interface, and better interactions with other blockchains, LUNA appears to be one of the best up and coming cryptocurrencies to watch based on its network capabilities. Terra already boasts eCommerce partners in more than 10 countries and a growing ecosystem that looks likely to continue growing.
CRO is a native token of the popular cryptocurrency trading platform Crypto.com. It is also a native token of the recently launched Crypto.com chain, which seeks to support the development of decentralized applications..
Although the CRO blockchain aims to speed up crypto adoption, it is mainly focused on improving the experience for Crypto.com users and investors outside the chain who may not enjoy the sleek experience it provides.
Crypto.com (CRO) holders enjoy discounted exchange fees and high interest for staking on the exchange. Additionally, holding a certain amount of CRO is required to access the platform’s crypto debit cards. As Crypto.com continues to grow in popularity, it is highly likely that the exchange token’s market price will continue to increase.
However, it is worth noting that some investors are rather skeptical about the high yield for staking on the platform and questioning the business module. Additionally, CRO has little to no use cases outside of Crypto.com.
Axie Infinity Shards (AXS) is the governance token of Axie Infinity, a blockchain-based trading and battling game. The game was inspired by Pokemon and allows its users to collect digital pets known as Axies which can be raised, battled and traded in the Axie ecosystem.
AXS could be dubbed one of the best up and coming cryptocurrencies as Axie Infinity is already pooling users from around the world and currently boasts close to three million active users. Unlike traditional gaming franchises, Axie Infinity players earn Smooth Love Portion (SLP) tokens while playing the game, and can covert this for real money.
The platform is decentralized and allows its users to engage in governance and how the treasury is spent using the native token. The increased adoption of the Axie Infinity game, as well as the project’s first mover advantage, makes it an exciting prospect for investors.
6. Stacks (STX)
Stacks was designed to bring smart contracts and decentralized applications to Bitcoin, while tapping into the network’s core properties such as security and stability. The dApps brought through the blockchain are open-sourced and modular, allowing a developer to build on other apps on the platform.
Stacks token (STX) is the native coin of the chain under consideration and offers its holders reward in BTC for stacking the cryptocurrency. The asset was the first cryptocurrency to receive SEC qualification for a sale in the United States, allaying fears of regulation-related issues.
One of the main decentralized solutions built on Stacks is the CityCoins application, which tends to allow cities to create their own cryptocurrency. This application has already been adopted by the U.S. city of Miami and could see growing usage.
Stack’s strong affiliation with the Bitcoin network means it has the potential to attract innovation-thinking Bitcoin enthusiasts. Additionally, the fact that STX offers Bitcoin reward to holders means the coin’s adoption could continue as more investors look for ways to grow their bitcoin holdings.
Frequently Asked Questions About Up and Coming Cryptocurrencies
What are the best up and coming cryptocurrencies?
Up and coming cryptocurrencies refer to blockchain and cryptocurrency-related projects that have the potential to see increased adoption and price appreciation over the next decade and beyond. Taking into consideration that the crypto industry boasts a lot of promising coins, the best up and coming cryptocurrencies are the ones with the added edge over the others.
Are the best up and coming cryptocurrencies guaranteed to succeed?
We drew conclusions based on the current features of the asset under consideration. However, it is important to note that the crypto space is an ever-changing one and as such, there could be a change in the expected outcome.
In this write-up, we discussed what up and coming cryptocurrencies are and also listed some of the best. The potential of every listed digital currency was also explained, encompassing the reasons why they may be some of the most promising digital assets.
The above predictions coming true largely depend on market conditions remaining relatively stable which of course is not guaranteed. The volatile nature of the crypto space, including other unknown constraints, means investors and traders must do their own research.